I came across this list in my local paper and felt it was worth posting for you business owners out there.
1 Numbers run a business. If you don't know how to read them, you are flying blind.
2 A sale isn't a sale until you collect.
3 When your short-term liabilities exceed your short-term assets, you are bankrupt.
4 Forget about shortcuts. Run a business as if it's forever.
5 Cash is hard to get and easy to spend. Make it before you spend it.
6 You have no friends in business, only associates.
7 Don't focus on the top line. Gross margin is the most important number on the income statement.
8 Identify your true competitors, and treat them with respect.
9 Culture drives a company. In the long run, the boss's most important job is to define and enforce it.
10 The life plan has to come before the business plan.
Thursday, April 9, 2009
Wednesday, April 8, 2009
The Error of Socialism
Quote
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The Gov't cannot give to anybody anything that the Gov't does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend , is about the end of any nation.You cannot multiply wealth by dividing it." - The late Dr. Adrian Roge
Experiment
I recently heard a story on local news radio regarding a Professor's experiment in socialism that echo's this logic. I cannot either confirm or deny it's validity, but again the logic is certainly difficult to challenge.
An economics professor said he had never failed a single student before but had, once, failed an entire class. The class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer. The professor then said, "OK, we will have an experiment in this class on socialism."All grades would be averaged and everyone would receive the same grade so most likely no one would fail and no one would receive an A.
After the first test the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. But, as the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided that since they could not make an A, they studied less. The second Test average was a D! No one was happy. When the 3rd test rolled around the average was an F. The scores never increased as bickering, blame, name calling all resulted in hard feelings and no one would study for anyone else.
All failed to their great surprise and the professor told them that socialism would ultimately fail because the harder people try to succeed the greater their reward but when a government takes all the reward away; no one will try or succeed.
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The Gov't cannot give to anybody anything that the Gov't does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend , is about the end of any nation.You cannot multiply wealth by dividing it." - The late Dr. Adrian Roge
Experiment
I recently heard a story on local news radio regarding a Professor's experiment in socialism that echo's this logic. I cannot either confirm or deny it's validity, but again the logic is certainly difficult to challenge.
An economics professor said he had never failed a single student before but had, once, failed an entire class. The class had insisted that socialism worked and that no one would be poor and no one would be rich, a great equalizer. The professor then said, "OK, we will have an experiment in this class on socialism."All grades would be averaged and everyone would receive the same grade so most likely no one would fail and no one would receive an A.
After the first test the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. But, as the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided that since they could not make an A, they studied less. The second Test average was a D! No one was happy. When the 3rd test rolled around the average was an F. The scores never increased as bickering, blame, name calling all resulted in hard feelings and no one would study for anyone else.
All failed to their great surprise and the professor told them that socialism would ultimately fail because the harder people try to succeed the greater their reward but when a government takes all the reward away; no one will try or succeed.
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